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☆ Sam Bankman-Fried Sentenced to 25 Years in Prison
▼ + stars: | 2024-03-28 | by ( David Yaffe-Bellany | J. Edward Moreno | ) www.nytimes.com time to read: +1 min

Sam Bankman-Fried, the founder of the FTX cryptocurrency exchange who was convicted of stealing billions of dollars from customers, was sentenced to 25 years in prison on Thursday, capping an extraordinary saga that upended the crypto industry and became a cautionary tale of greed and hubris. Mr. Bankman-Fried, 32, did not visibly react as Judge Lewis A. Kaplan handed down the sentence in Federal District Court in Manhattan. His parents, the law professors Joe Bankman and Barbara Fried, sat two rows from the front, staring at the floor. He knew it was criminal,” Judge Kaplan said of Mr. Bankman-Fried’s actions. Before the sentence was delivered, Mr. Bankman-Fried, cleanshaven and wearing a loosefitting brown jail uniform, apologized to FTX’s customers, investors and employees.

Persons: Sam Bankman, Bankman, Lewis A, Kaplan, Joe Bankman, Barbara Fried, ” Judge Kaplan Organizations: Court Locations: Manhattan

☆ Sam Bankman-Fried Should Get 40 to 50 Years in Prison, Prosecutors Say
▼ + stars: | 2024-03-15 | by ( Matthew Goldstein | David Yaffe-Bellany | ) www.nytimes.com time to read: +1 min

Federal prosecutors said on Friday that Sam Bankman-Fried, the cryptocurrency mogul who was convicted of masterminding a multibillion-dollar fraud, should receive a prison sentence of 40 to 50 years. The prosecutors outlined the recommendation in a filing in U.S. District Court in Manhattan. Mr. Bankman-Fried’s sentencing hearing is scheduled for March 28, when Judge Lewis A. Kaplan will decide his fate. “Justice requires that he receive a prison sentence commensurate with the extraordinary dimensions of his crimes,” the prosecutors said in a 116-page sentencing memo to the judge. The federal probation department separately recommended a 100-year sentence for Mr. Bankman-Fried, 32, effectively a life sentence.

Persons: Sam Bankman, Bankman, Judge Lewis A, Kaplan Organizations: “ Locations: Manhattan

NEW YORK (AP) — FTX founder Sam Bankman-Fried's orchestration of one of history's largest financial frauds in his quest to dominate the cryptocurrency world deserves a prison sentence of 40 to 50 years, federal prosecutors on Friday told a federal judge. “His life in recent years has been one of unmatched greed and hubris; of ambition and rationalization; and courting risk and gambling repeatedly with other people’s money. And even now Bankman-Fried refuses to admit what he did was wrong,” prosecutors wrote. Bankman-Fried was extradited to the United States in December 2022 from the Bahamas after his companies collapsed a month earlier. “Even following FTX’s bankruptcy and his subsequent arrest, Bankman-Fried shirked responsibility, deflected blame to market events and other individuals, attempted to tamper with witnesses, and lied repeatedly under oath,” prosecutors said, citing his trial testimony.

Persons: — FTX, Sam Bankman, Prosecutors, Tom Brady, Larry David, “, Fried, ”, ” “, Judge Lewis A, Kaplan, Marc Mukasey, “ Sam, ” Mukasey, — Locations: Manhattan, ”, United States, Bahamas, Palo Alto , California

NEW YORK (AP) — The federal judge who presided over the jury trial that resulted in an $83 million award to writer E. Jean Carroll for her defamation claims against former President Donald Trump said Wednesday that his rejection of his lawyer's unusual midtrial mistrial request was not a close call. Habba said a mistrial was in order because Carroll, 80, was confessing that she destroyed evidence that should have been preserved for trial. Out of the presence of the jury one day, the judge even threatened to jail her if she didn't stop talking. The $83.3 million award by the jury two weeks ago came over statements Trump made while he was president. The jury rejected Carroll's rape claim, though the judge later said what the jury found would be considered rape in other jurisdictions.

Persons: E, Jean Carroll, Donald Trump, Judge Lewis A, Kaplan, Alina Habba's, Carroll, Habba, ” Kaplan, Trump, didn't, ” Habba Organizations: Trump Locations: Manhattan

☆ At the Defense Table, Trump Uses the Courtroom as a Stage
▼ + stars: | 2024-01-28 | by ( Maggie Haberman | Kate Christobek | ) www.nytimes.com time to read: +1 min

He spoke to his lawyers, his words sometimes quite audible to the packed courtroom. He wrote instructions for his defense team that he shoved their way. He walked in late at one point, and at another, while a lawyer suing him was speaking to the jury, he stalked out. His use of the defense table as a stage also provided clues to the public, and a reminder to his own legal team, of how he might handle himself if and when any of the four criminal cases he is facing go to trial. And in recent months he sat for many days of the trial a few blocks away at 60 Centre Street, where Justice Arthur F. Engoron of State Supreme Court oversaw the fraud trial against Mr. Trump and his company.

Persons: Donald J, Jean Carroll —, New York —, Carroll, general’s, Trump, Judge Lewis A, Kaplan, Arthur F Organizations: New, Republican, Court, Mr Locations: New York, Manhattan

Will Trump keep that up, now that he's been hit with a $83.3 million defamation judgment? A jury on Friday found that Trump had maliciously damaged Carroll's reputation in 2019 after she went public with her accusations. If both judgments stand, Trump would owe her a total of $88.3 million. THE FIRST TRIALCarroll sued Trump for defamation in 2019, saying his statements about her were false and damaged her reputation. The $88.3 million in judgments against Trump are actually less than what some of his supporters have faced in recent defamation cases.

Persons: Donald Trump, Jean Carroll, Will Trump, he's, Trump, Carroll, Goodman, Jean, District Judge Lewis A, Kaplan, ” Kaplan, Alina Habba, Habba, CARROLL, Rudy Giuliani, Alex Jones, Sandy, Giuliani, Jones Organizations: Trump, Elle, White, House, House . U.S, District, U.S, Supreme, TRUMP, Carroll, New, New York City, Elementary Locations: Manhattan, lacy, New York, House ., Georgia, Texas, Connecticut, That's

A different jury last May concluded that Trump sexually abused Carroll in the spring of 1996 in the changing room of a luxury Manhattan department store. Carroll, 80, testified at last year's trial that she had a chance encounter with Trump at a Bergdorf Goodman store that was flirtatious and lighthearted until Trump cornered her in a changing room. Her claim that Trump raped her was rejected by last year's jury, though it agreed she was sexually abused. Last week, Carroll testified that her career was shattered by Trump's statements about her claims over the last five years, most recently on the campaign trail for president. The Associated Press typically does not name people who say they have been sexually assaulted unless they come forward publicly, as Carroll has done.

Persons: Donald Trump, Jean Carroll's, Carroll, Trump, ” Trump, ”, Judge Lewis A, Kaplan, Alina Habba, Goodman, ” Kaplan, Michael Madaio Organizations: Trump, Republican, Associated Press Locations: New York, Manhattan

“The thing you’ve got to do primarily is set rules and enforce them,” said John S. Martin Jr., a former U.S. District Court judge in Manhattan. In Ms. Carroll’s defamation trial, Mr. Trump seemed almost to be goading Judge Kaplan into throwing him out of the courtroom. After his two recent confrontations with the judges, Mr. Trump held news conferences before cheering supporters in the lobby of his building at 40 Wall Street. Ms. Carroll’s defamation trial is being heard by a nine-person jury in Federal District Court, with Judge Kaplan overseeing the proceedings. During his diatribe, Mr. Trump refrained from attacking any staff members.

Persons: Arthur Engoron, Donald Trump, Donald J, Arthur F, Trump, Mr, ”, Jean Carroll, Judge Lewis A, Kaplan, Ms, you’ve, John S, Martin Jr, “, ” Mr, Carroll’s, Letitia James, Kaplan “, Alexi J . Rosenfeld, Trump’s, Engoron’s, Judge Kaplan, Carroll, Jefferson Siegel, The New York Times Judge Kaplan, Bill Clinton, Sam Bankman, Sulaiman Abu Ghaith, Osama, Laden, Katherine B, Forrest, Judge Kaplan’s, Michael B, Mukasey, Justice Engoron, Art Garfunkel, —, James, Christopher M, Kise, Engoron, Kate Christobek, Olivia Bensimon, Kirsten Noyes Organizations: Trump, Getty, Court, The New York Times, Mr, New York Times Locations: New York, York, U.S, Manhattan, New Hampshire, Trump’s Manhattan

A jury last year agreed that it happened and awarded Carroll $5 million in damages for sexual abuse and defamation. Trump denies ever knowing Carroll and says she made up her claims to sell a memoir. He did not testify at or attend last year's trial, a decision he now says he regrets. Thus, Kaplan has ruled, Trump will be barred from testifying about subjects that would conflict with last year's verdict. The current trial is in addition to four criminal cases Trump faces as the presidential primary season heats up.

Persons: Donald Trump, Jean Carroll, Trump's, Trump, Carroll, Lewis A, Kaplan, “, ” Trump, defaming Carroll, Alina Habba, Habba, Carroll's, he’s Organizations: Trump Locations: New York, New Hampshire, Iowa, earshot

The testy clashes have come to be expected as Trump's lawyers carry into the courtroom the bombastic, and often antagonistic, style that defines his campaign trail demeanor. There's no doubt that the lawyers, with some exceptions, have struggled to score major points with judges and in fact have often provoked their ire. Both cases have been defined by contentious exchanges between judges and Trump and his lawyers. In November, for instance, they pushed unsuccessfully for a mistrial in the fraud case, accusing Judge Arthur Engoron of “tangible and overwhelming” bias. Chutkan has repeatedly admonished Trump’s lawyers for political arguments, once telling attorney John Lauro during debate over whether restrictions could be placed on Trump's speech that though she knew he had a “message” to convey, she didn't want campaign rhetoric in court.

Persons: Alina Habba, ”, Lewis A, Kaplan, There's, Trump, “ Trump, Ty Cobb, ” Trump, E, Jean Carroll, Judge Arthur Engoron, Engoron, Christophe Kise, Kise, Habba, he’d, “, ” Kaplan, Joe Biden, ” They’ve, Biden, Tanya Chutkan, Barack Obama, Chutkan, John Lauro, Lauro, Todd Blanche, Chris Kise, Tim Parlatore, Joe Tacopina, Tacopina, — “, “ Donald Trump, Donald Trump, that’s, Aileen Cannon, Trump’s, ” Stephen Saltzburg, ___ Richer, Larry Neumeister Organizations: Trump White House, Trump, Biden, Justice Department, U.S, MSNBC, George Washington University, Associated Press Locations: New York, Washington, Atlanta, Georgia, York, Florida, Lago, Boston, Sisak

Trump could testify as soon as Monday in the defamation trial over his 2019 comments branding Carroll a liar who faked a sexual attack to sell a memoir. He plans to be in court as the New York trial resumes after a weekend break. He regularly addressed the news cameras waiting outside the fraud trial in a New York state court. He lied, and he shattered my reputation,” Carroll, a former longtime Elle magazine advice columnist, told jurors and Trump while he was still in court. Trump has said his lawyers advised him not to dignify the first trial by attending it.

Persons: Donald Trump, E, Jean Carroll, Trump, Carroll, Judge Lewis A, Kaplan, hasn't, ”, ” Trump, Roberta Kaplan, he's, “, ” Carroll, Elle, He's, Alina Habba, Habba Organizations: New, Republican, Associated Press Locations: New York, U.S, New Hampshire

☆ As Trump Treats Trials Like Rallies, Judges Study How to Rein Him In
▼ + stars: | 2024-01-21 | by ( Benjamin Weiser | Jonah E. Bromwich | ) www.nytimes.com time to read: +1 min

Donald J. Trump doesn’t change. The judges’ different approaches to the tempestuous storm that entered their courtrooms — and the different results — could offer lessons beyond the two New York cases. They may provide guidance for the judges set to oversee Mr. Trump’s four potential criminal trials, who will want to keep the 45th president from transforming his legal proceedings into political spectacles. “The thing you’ve got to do primarily is set rules and enforce them,” said John S. Martin Jr., a former U.S. District Court judge in Manhattan. “I think if the judge is tough and doesn’t back down, Trump will back down.”

Persons: Donald J, Arthur F, Trump, Mr, ”, Jean Carroll, Judge Lewis A, Kaplan, Ms, you’ve, John S, Martin Jr, “ Organizations: Trump Locations: New York, York, U.S, Manhattan

Attorney Alina Habba told a judge in a letter that writer E. Jean Carroll’s trial was ruined when Habba elicited from Carroll through her questions that Carroll had deleted an unknown number of social media messages containing death threats. That jury awarded Carroll $5 million in damages. Robbie Kaplan, an attorney for Carroll who is not related to the judge, declined comment. Habba asked the judge to instruct the jury that Carroll had an obligation to minimize the effect of the defamation she endured. The trial resumes Monday, when Trump will have an opportunity to testify after Carroll's lawyers finish presenting their case.

Persons: — Donald Trump’s, Alina Habba, E, Jean Carroll’s, Carroll, Carroll “, Habba, Trump, Judge Lewis A, Kaplan, Goodman, Robbie Kaplan, defames, ” Organizations: Trump Locations: York

During a break after Ms. Carroll had spent the morning testifying about what happened after she accused Mr. Trump of raping her, one of her lawyers complained, out of the jury’s presence, that Mr. Trump had been overheard speaking at the defense table. He said “witch hunt” and “it was a con job,” loudly enough that jurors could hear, said Shawn Crowley, one of Ms. Carroll’s lawyers. Judge Lewis A. Kaplan, who had sparred all morning with Mr. Trump’s lawyer, Alina Habba, over her objections to Ms. Carroll’s testimony, appeared to be losing his patience. Trump has a right to be present here,” Judge Kaplan said. “That right can be forfeited and it can be forfeited if he is disruptive, which is what has been reported to me, and if he disregards court orders.”

Persons: Jean Carroll, Donald J, Trump, Carroll, ”, Shawn Crowley, Judge Lewis A, Kaplan, Trump’s, Alina Habba, Carroll’s, “ Mr, ” Judge Kaplan

The jury said Carroll hadn't proven that Trump raped her. One issue that wasn’t decided in that first trial was how much Trump owed for comments he made about Carroll while he was still president. He did not attend last year's trial, saying recently that his lawyer advised against it. Trump, with actual malice, lied about sexually assaulting Ms. Carroll.”Those restrictions don’t apply outside of the presence of the jury. Carroll, 80, plans to testify about the damage to her career and reputation that resulted from Trump's public statements.

Persons: Donald Trump, Jean Carroll, Carroll, Trump, Carroll hadn't, wasn’t, Lewis A, Kaplan, Goodman, “, ” Organizations: Trump Locations: Iowa, Manhattan

NEW YORK (AP) — Former President Donald Trump can wait a week to testify at a New York defamation trial where he could face millions of dollars in damages after a jury concluded that he sexually abused a columnist in the 1990s, a federal judge said Sunday. The judge also noted that he has learned that Trump, even while seeking to postpone the trial, had scheduled an evening campaign appearance on Wednesday in Portsmouth, New Hampshire. He said Trump's lawyers notified the judge on Friday that Trump planned to attend the trial. This month's trial, long delayed by appeals, stems from defamatory comments the judge said Trump made about Carroll in 2019 and last May, a day after the jury announced its verdict. Habba said Trump also can testify about the circumstances of his comments and how they related to comments in Carroll’s "continuous parade of interviews and publicity."

Persons: Donald Trump, Judge Lewis A, Kaplan, Trump, Jan, E, Jean Carroll, Carroll, Carroll's, Alina Habba, ”, Habba, Roberta Kaplan, ” Kaplan, —, — Ms Organizations: Republican, Carroll, Trump Locations: York, Portsmouth , New Hampshire, Manhattan, New York

☆ Jury Begins Deliberations for a Verdict in Sam Bankman-Fried’s Trial
▼ + stars: | 2023-11-02 | by ( J. Edward Moreno | More About J. Edward Moreno | ) www.nytimes.com time to read: +1 min

Jurors have sat through his trial for nearly a month now, hearing from witnesses including some of Mr. Bankman-Fried’s closest associates, who placed blame squarely on him. On Wednesday, closing arguments were made by a federal prosecutor, Nicolas Roos, and Mr. Bankman-Fried’s lawyer, Mark Cohen. In his closing statements, Mr. Roos reminded the jury of the evidence and testimony from witnesses who said Mr. Bankman-Fried had directed them to commit crimes. Mr. Cohen sought to portray his client as someone who acted in good faith but made mistakes. He has held the trial on some Fridays, which the jury usually has off, and has been willing to hold jurors past 4:30 p.m., when they are usually relieved.

Persons: Bankman, Nicolas Roos, Mark Cohen, Danielle Sassoon, Cohen’s, Roos, Fried, Cohen, Judge Lewis A, Kaplan, Judge Kaplan

NEW YORK (AP) — A New York jury began deliberating on Thursday whether FTX founder Sam Bankman-Fried was guilty of fraud in the disappearance of billions of dollars from his customers’ accounts on the cryptocurrency exchange he created four years ago. The Manhattan federal court jury began its work after a judge explained the law that will steer them through seven charges lodged against the California man. Bankman-Fried, 31, testified during the monthlong trial that he did not defraud thousands of investors worldwide. Earlier Thursday, Assistant U.S. Attorney Danielle Sassoon delivered a rebuttal argument, the last of closing arguments that began a day earlier. “When Sam testified before you, he told you the truth, the messy truth, that in the real world miscommunications happen, mistakes happen, delays happen,” Cohen said.

Persons: Sam Bankman, Fried, He’s, Judge Lewis A, Kaplan, he'd, Palo, Danielle Sassoon, ” Sassoon, FTX, “, Mark Cohen, ” Cohen, Sam, ” Organizations: U.S, Alameda Research Locations: York, Manhattan, California, New York, Bahamas, Palo Alto , California, Alameda

NEW YORK (AP) — In a closing argument, a prosecutor told a New York jury Wednesday to follow overwhelming evidence and the “pyramid of deceit” that FTX founder Sam Bankman-Fried constructed to conclude he’s guilty of defrauding his customers and investors of at least $10 billion. “He told a story and he lied to you,” Roos told jurors just a day after Bankman-Fried concluded his testimony at the monthlong trial. FTX was bankrupt.”“Who was responsible?” Roos asked, only to quickly point to Bankman-Fried, sitting between his lawyers. He spent his customers' money and he lied to them about it.”The prosecutor said Bankman-Fried spent the money on real estate, donations, promotions, investments and political contributions. Roos told jurors that if they believe even one of the four former executives who testified against him, they must convict Bankman-Fried.

Persons: Sam Bankman, he’s, Nicolas Roos, Fried, “, ” Roos, Judge Lewis A, Kaplan, Bankman, Roos, FTX, ”, Samual Organizations: New, U.S, Alameda Research Locations: New York, Manhattan, FTX, Bahamas, Palo Alto , California

NEW YORK (AP) — FTX founder Sam Bankman-Fried testified at his New York trial on Friday, denying that he defrauded anyone but acknowledging that the innovative business he had hoped would move the cryptocurrency ecosystem forward ended up hurting customers instead. “It turned out basically the opposite of that,” and a lot of customers and others got hurt, Bankman-Fried said. After the jury was sent home Thursday, Bankman-Fried testified in front of the judge about his communications with lawyers as he built his cryptocurrency empire. The executives testified that Bankman-Fried directed them to spend billions of dollars taken from the accounts of FTX customers and funneled through Alameda Research, a hedge fund he started in 2017, two years before he created the FTX cryptocurrency exchange. ___For more AP coverage of Sam Bankman-Fried and FTX: https://apnews.com/hub/sam-bankman-fried

Persons: — FTX, Sam Bankman, Fried, Mark Cohen, “, Judge Lewis A, Kaplan, ” Kaplan Organizations: Prosecutors, Alameda Research Locations: York, Manhattan, California, Bahamas, Bankman, New York, Palo Alto , California, Alameda

Defense lawyers estimated that they would question him for about five hours after brief testimony from two other witnesses. After prosecutors rested Thursday, defense lawyers immediately asked Judge Lewis A. Kaplan to acquit Bankman-Fried on the grounds that prosecutors had failed to present sufficient evidence. Bankman-Fried was arrested in the Bahamas and extradited to the United States last December, a month after his businesses collapsed. Kaplan revoked the bail in August after concluding that Bankman-Fried had tried to influence potential trial witnesses. Since then, his lawyers have complained that Bankman-Fried has been unable to properly prepare for trial while incarcerated at a Brooklyn federal lockup.

Persons: Sam Bankman, Fried, Judge Lewis A, Kaplan, acquit, Caroline Ellison, Bankman Organizations: — Prosecutors, Alameda Research, Palo, Stanford University, Bankman, Alameda Locations: Manhattan, California, Alameda, Bahamas, United States, Palo Alto , California, Brooklyn

The wait for Sam Bankman-Fried’s testimony will be a little longer. Judge Lewis A. Kaplan, who is overseeing the disgraced crypto mogul’s federal criminal trial, sent jurors home on Thursday afternoon just before Mr. Bankman-Fried was expected to take the stand. Judge Kaplan opted instead for a hearing to discuss pending testimony from Mr. Bankman-Fried, who founded the FTX cryptocurrency exchange, with regard to his reliance on company lawyers in making decisions. The jury will return on Friday, when Mr. Bankman-Fried is expected to testify. Mr. Bankman-Fried, 31, has pleaded not guilty to seven counts of fraud, conspiracy and money laundering.

Persons: Sam Bankman, Judge Lewis A, Kaplan, Fried, Judge Kaplan, FTX

NEW YORK (AP) — FTX founder Sam Bankman-Fried plans to testify at his fraud trial, his lawyer told a federal judge on Wednesday, a day before the defense is set to counter testimony from former executives who say the cryptocurrency executive stole billions of dollars from his customers and investors over several years. Attorney Mark Cohen told Judge Lewis A. Kaplan that he planned to call three witnesses “and then our client is also going to be testifying” after prosecutors rest early Thursday. Even so, prosecutors and the judge later discussed the possibility that closing arguments could occur early next week if Bankman-Fried changes his mind and doesn't take the stand. That means only Bankman-Fried or other character witnesses can tell his side of the story, former prosecutors said. ___For more AP coverage of Sam Bankman-Fried and FTX: https://apnews.com/hub/sam-bankman-fried

Persons: — FTX, Sam Bankman, Fried, Mark Cohen, Judge Lewis A, Kaplan, “, ”, Cohen, Rachel Maimin, Lowenstein Sandler, Caroline Ellison, Gary Wang, Joshua Naftalis, “ It’s, Mary Organizations: Alameda Research, Pallas Partners Locations: Manhattan, Palo Alto , California, Bahamas

NEW YORK (AP) — A federal appeals panel wants to know why lawyers for former President Donald Trump didn’t try years ago to use a claim of absolute presidential immunity to shield him from a defamation lawsuit by a woman who accused him of sexual assault. He also insisted that absolute presidential immunity was a protection that cannot be surrendered by Trump or any other president. Kahn asked Madaio later in the arguments why absolute presidential immunity was not asserted sooner. In the spring, a Manhattan federal court jury found that Trump sexually abused Carroll, but it rejected her claim that he raped her. Trump is the early front-runner for the 2024 Republican presidential nomination.

Persons: Donald Trump didn’t, Trump, E, Jean Carroll, Carroll, Maria Araujo Kahn, Denny Chin, Michael Madaio, Judge Lewis A, Kaplan, ” Kaplan, Chin, Judge Kaplan, it’s, ” Madaio, Kahn, Madaio Organizations: —, U.S, Circuit, Trump Locations: Manhattan, New York

Bankman-Fried was arrested in the Bahamas a month later. Singh pleaded guilty to fraud charges and agreed to testify against the man he'd known since high school. Singh said he had little influence over Bankman-Fried. “I can’t have lawyers coming in and giving drugs to people on trial because somebody says they need it. ___For more AP coverage of Sam Bankman-Fried and FTX: https://apnews.com/hub/sam-bankman-fried

Persons: —, Sam Bankman, “ blindsided, ” Nishad Singh, Fried, Singh, “, ”, he'd, ” Singh, Jeff Bezos, Leonardo DiCaprio, Tom Brady, Larry David, Judge Lewis A, Kaplan, ” Kaplan Organizations: Bankman, Alameda Research, FTX, Amazon, Miami Heat, Major League Baseball Locations: FTX, Bankman, Bahamas, Manhattan, Palo Alto , California, San Francisco, California, Miami

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